Contact: Joanne Williams
For Immediate Release
The National Association of Real Estate Brokers (NAREB) to host Open House events to boost Black homeownership.
Washington, DC (June 14, 2016) – The National Association of Real Estate Brokers (NAREB), the country’s oldest minority real estate trade association is sponsoring National Open House Weekend, June 25-26, 2016. The event not only celebrates National Homeownership Month, but also encourages Black Americans to consider homeownership as the first step toward building wealth. Locally, NAREB chapters are staging open houses in their communities as part of NAREB’s national initiative to increase Black homeownership by two million over the next five years.
“Black Americans are still reluctant to enter the real estate market. Anecdotal as well as factual reports indicate that Black Americans bore the brunt of the major economic downturn that stripped away home equity, and in far too many instances countless loss of homes due to foreclosure,” said Ron Cooper, president of NAREB. Industry and government reports also indicate that homeownership rates for Black Americans remain at about 42 percent, down from a high of 49 percent in 2006. In comparison, the current homeownership rate for non-Hispanic whites is approximately 74 percent.
“NAREB intends to rebuild wealth in the Black American community through consumer education that provides consumers with correct information before entering the home buying process. We know the value of homeownership and how it significantly contributes to individual wealth building and community stabilization. Restoring confidence in homeownership is the key to building, or re-building economic security,” Cooper added.
The upcoming National Open House Weekend events help prospective homebuyers make informed decisions. Participating NAREB chapters are planning a number of local community Open House events hosted by NAREB member Realtists. Home buying counselors, financial services representatives and real estate professionals are expected to be present to answer consumer questions about the importance of homeownership as a wealth building tool.
For specific information about the local Open House events like those scheduled in Atlanta, GA; Brooklyn, NY; Greenville, NC, and Oakland, CA, and in other cities across the country, call NAREB headquarters at 301-552-9340, or visit www.nareb.com.
Tags: Black Homeownership, NAREB, Black Wealth, Realtists
The National Association of Real Estate Brokers (NAREB) was formed in 1947 to secure the right to equal housing opportunities for all regardless of race, creed, or color. NAREB has 90 chapters located nationwide and publishes annually The State of Housing in Black America (SHIBA) Report. Visit www.nareb.com for more information. Or call 301-552-9340.